Moin acquires prepaid and debit electronic payment method licenses.

Moin, a fintech company specializing in overseas remittances, announced that it had passed all registration screenings for prepaid electronic payment instruments and debit electronic payment instruments issuance and management businesses under the Electronic Financial Transactions Act from the Financial Services Commission and completed its official registration on the 24th.

With this approval, Moin has secured the legal foundation to expand its business beyond its existing overseas remittance service into various payment services, including cards, e-wallets, and automated payments. Registration as an electronic financial service provider requires passing rigorous screening by financial authorities, including financial soundness, internal controls, and IT stability. This registration is considered a case of institutional validation of Moin's stability and reliability.

This registration as a prepaid electronic payment instrument and debit electronic payment instrument is particularly significant because it goes beyond simple payment instrument issuance and innovatively simplifies the customer experience with payment services. By integrating international payments into a single account or wallet, the hassle of multiple deposits and withdrawals can be reduced. Furthermore, businesses and platform providers can automate the billing and receipt of funds from end customers and related international payments.

This registration is also significant for Moin's service diversification strategy. Moin has already acquired and is pursuing financial licenses in key overseas markets, including Japan and Europe. By acquiring prepaid and debit card licenses in Korea, Moin has laid the foundation for its leap forward as a comprehensive financial service provider capable of integrating with global services.

Moin CEO Seo Il-seok stated, “This license registration marks a significant turning point for Moin, which began with overseas remittances, to expand into all areas of payment and settlement services.” He added, “We will continue to obtain global financial licenses and pursue technological innovations to provide customers with safer and more convenient services, and lead innovation across the fintech industry.”